Lining up nicely for long 0.908 -> 0.92If USDCHF continues down below the current Shifting POC (dashed red), I expect it to reach the bottom of around 0.908 in three days.
The level is where massive mid-June candles overlapped mid-through the great rally. There is a short-lived overnight consolidation that worked as a launchpad for the continuation.
Then, there is the start of that very same really projected under the Shifting POC's angle (red arrow). For me, that makes it a great level to trade and I will wait on 1h to see reaction before I enter the long.
This chart shows the same logic working in recent history when a projection of the previous value channel's low created a new value channel's high. A historical POC, then, highlighted a rejected breakout which would make a good short back to Shifting POC.
